Moody's gives News Corp. notes Baa1

Moody's Investors Service said it assigned a Baa1 rating to News Corp.'s new $1 billion of notes due 2020 and 2039.

The new notes, issued by News Corp.'s subsidiary - News America Inc. - are unsecured obligations and will rank equally with all other existing and future unsecured debt of the company, the agency added.

According to the agency, proceeds from the offering will be used to repay debt maturities over the next 12 months.

The outlook is stable.

According to Neil Begley, senior vice president, "The transaction will have no impact on the company's total debt-to-EBITDA leverage over the long-term and as a result the new debt offering does not affect News Corp.'s Baa1 long-term rating and stable outlook."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.